Five Star to redeem all $24.87 million of 3.75% convertibles due 2026

By Tali David

Minneapolis, June 5 - Five Star Quality Care, Inc. plans to redeem all $24,872,000 of its 3.75% convertible senior notes due 2026, the company announced in a press release.

The notes will be redeemed at par plus accrued interest on July 8.

The company plans to fund the redemption with cash on hand and borrowings under its revolving credit facility.

Based in Newton, Mass., Five Star operates senior living communities.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.